St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-12-05
RTTcIEs OF ASSOCIATION

A RTICLES OF ASSOCIATION OF
n the Midyale Improvement Company
do hereby associate for the purpose of form
ing a corporation under title of chapter 81
of the Laws of the State of Minnesota and
the several acts amending the same. and do
hereby adopt the following articles OF 1ncor-
pOratiOn, to-wit:
First-The name of said corporation shall
be the Midvale Improvement Company. The
general nature of its business shall be for
buying, owning, improving, selling and deal
ing in lands, tenements and Entertainments,
real, mixed and personal estate and property
in Washington county, Minnesota, with all
the corporate powers, privileges and fran
chiseS pertaining to such corporation under
said title 2, chapter 81. and the several acts
amending the same The principal place of
tranSacting the said business of said corpora
ton shall be in the City of st. Paul, Ramsey
County, Minnesota.
Seeond-The said corporation shall COM
mence on the 18th day OF December. 1887,
and the same shall continue for the period of
thirty years thereafter.
Third-The amount of capital stock of said
corporation shall be the sum of one hundred
thousand dollars: the same to be paid III IN
stallments upon the call of q majority OF the
directors. Such capital stock, and the num-
Der of shares thereof, may be increased at
any regular or special meeting of the stock
holders to any amount within the limit pro-
vided by law.
Fourth-The highest amount of indebted
ness or liability to which said corporation
shall at any time be subject shall not exceed
one-fourth of its authorized capital stock.
Fifth-The names and places of residence
of the persons forming said association for
incorporation are as follows: Charles l..
Sumbardo, residence, st. Paul, Minnesota;
Amos B. Bowman, residence, st. Paul, Mini
nesOta; Mason NJ. Flinl residence, ST. Paul.
Minnesota.
Sixth-The names of the first board of di-
rectors shall be the said Charles L. Sumbardo,
A. B. Bowman and Mason M. Flint all of st.
Paul, in said Ramsey county. The govern
ment OF said corporation and the manage
ment of its affairs shall be president vice
president, secretary and treasurer and
board of three directors. The secretary and
treasurer may be the same. person: The
said officers, shall be elected by the
number at the first meeting of in
corporators, which shall be held at the Office
of c. l.. Sumbardo, in st. Paul, on the 10Th
day of December, 1887, and thereafter an
nually The annual meeting of stockholders
for the election of directors shall take place
on the second Saturday of December, 1883.
and thereafter annually. The directors shall
be stockholders i'll the corporation. The dl-
rectors or majority of them, shall have full
power and authority. by resolution. to ac-
quire, purchase ana improve lands, real
estate and personal property for or in the
name of said corporation. and to grant, bar
gain and sell, mortgage or otherwise encum
Der the same, pat the same us toNi VI NijlaSe
plats or additions to any city, town Or village,
and to dedicate streets, alleys or other parts
thereof to the public use: and also to nego-
tiate sell, assign or satisfy mortgages, notes
or other securities or personal property be
longing to said corporation. Ali conveyanees
shall be executed by the president TOR vice
presidenD, and the secretary, and sealed with
the corporate seal.
Seventh-Tne capital stock of said corpora
ton shall be divided into one thousand shares
of the par value of one hundred dollars per
share.
Witness our hands and seals at St Paul
this I'd day of December, A. d. 1887, in
duplicate:
[Signed,l CT. SUMBARDO, [Seal.l
A. B. BOWMAN, lSeal.l
NJ. NJ FLINT. Seal.
Signed scaled and delivered in the pres
ence of
HARVEY OFFICER,
LOUIS LERCH